Parking facilities, such as parking decks and parking lots, can be an important economic resource for the owners and operators of the associated real estate. Parking facilities may also be key allied operations to affiliated or neighboring hotels, hospitals, residential areas, businesses, retail centers, sports venues, event locations, entertainment venues, or other such operations.
For parking customers, full information on the availability and pricing of various parking resources is not readily available. This lack of transparency complicates the market for, and consumption of, parking resources and may result in increased traffic, lost profits, or even avoidance of certain events or locations by consumers. For the managers of parking resources, a lack of detailed information regarding supply, demand, events, traffic, weather, and so on can complicate the establishment of optimal pricing. This can result in further lost profits.